Cheng Yutung Net Worth is$16 Billion
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Date of Birth: 1925
Net Worth: View Cheng Yu-tung Net Worth
What is Cheng Yu-tung's net worth? Cheng Yu-tung's $16 billion net worth makes him one of the richest people in Hong Kong. Born in Shunde, Guangdong, Republic of China, Cheng Yu-tung is now based in Hong Kong. Until just recently, he was the CEO of New World Development, a family-owned real estate development firm. He began his professional career with a jewelry business called, Chow Tai Fook. Chow Tai Fook grew to become Chai Tai Fook Enterprises and expanded into multiple business ventures, including serving as the umbrella corporation for New World Development. Chow Tai Fook/New World Development now own multiple properties in Hong Kong, Macau, and abroad, including five high-end hotels. Most recently, the company purchased the Carlyle Hotel in Manhattan. The company also runs the Sheraton Marina hotels. In addition to his work with Chow Tai Fook, he also serves as honorary consul for Bhutan, and on the board of Hong Kong's third largest bank, Hang Seng. He announced his retirement in early 2012, and passed leadership to his son.

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Cheng Yutung Latest News

Up to 200 jobs at broadcaster i-Cable likely to be axed

the eldest son of late tycoon Cheng Yu-tung, and his family-owned conglomerate Chow Tai Fook Enterprises. The Cheng family is the third richest in the city.
Posted: April 21, 2017, 4:29 pm

How A Billionaire Scion and Vivienne Westwood Are Reshaping China’s Consumption

Along with his younger brothers and sister, he is due to inherit a large part of the empire built by his late grandfather, Cheng Yu-tung, whose assets were estimated at over US$16 billion before his death last year. But what really fires him up is cross ...
Posted: April 19, 2017, 9:25 pm

Jewelry Retailer Becomes Billionaire Amid China IPO Demand

Chinese gem retailer Zhou Zongwen became a billionaire when his Chow Tai Seng Jewellery Co. surged in value following its initial public offering this week. Shares of the gold and jewelry seller rose another 10 percent to 31.55 yuan ($4.58) by the midday ...
Posted: April 27, 2017, 10:03 pm
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